It has been revealed that the number of people being hired by banks has risen according to figures that have been released by a recruitment agency. In the month of July, some 2,985 jobs were created just in The Square mile, which is showing a dramatic improvement on recent trends.
The figures, which are a 39 per cent drop in hiring numbers when compared to 12 months ago, suggest that banks are starting to look to hire at least as many people as they are letting go. This news is a massive relief to an industry that has been rocked by scandals over recent years
One recruitment expert said: “Although there has been some growth over the last month, the appetite to hire in the City remains pretty thin. Banks are hiring new staff, although this is more often than not to replace departing staff as opposed to reacting to an anticipated growth in investment banking revenue.”
The expert goes on to add, “Banker bashing has returned to London with a vengeances, and bullish optimism, which is usually more prevalent in the City than in other sectors, is now a rare commodity.” He then went on to plead with commentators and politicians to remain balanced in any banking debates in order to avoid costing more jobs within the City.
Many brokers across the City have claimed that they feel their jobs are at risk as investment banks and trading houses continue to downsize.